Crypto Become Universal Money?

[Westfiled]

In my opinion, to apply cryptocurrency as a world currency or universal currency, it is very far away because each country has its own regulation of currency, but if you use blockchain technology, it is possible that it will be applied by each country.

It will never happen as crypto will never able to deal with all of regulations in all of countries. universal currency means crypto will be adopted by all of countries and that means if crypto has no chance to become a universal currency.

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[adzino]

Isn't it a universal currency already? Like bitcoin has no geographic boundaries. It can be used from any place on the earth and can be sent anywhere within seconds (unless the government of that country has made usage of bitcoin illegal, but I doubt they can do anything as long as you don't convert it to fiat currency or have any crypto currency transaction connection with the bank).
So for now it is unofficially a universal currency. Once the government starts regulating it more strictly, it will become an official universal currency.

[yulchatar]

In my opinion, to apply cryptocurrency as a world currency or universal currency, it is very far away because each country has its own regulation of currency, but if you use blockchain technology, it is possible that it will be applied by each country.

It will never happen as crypto will never able to deal with all of regulations in all of countries. universal currency means crypto will be adopted by all of countries and that means if crypto has no chance to become a universal currency.

If the rules are established, then the cryptocurrency will lose its function of decentralization. But hopefully an alternative will be found. Many countries are already gradually transferring residents to use non-cash payments, preparing them for the digital future. And, perhaps, in a few decades, we will be able to use cryptocurrency freely as well.

[Arkann]

In my opinion, to apply cryptocurrency as a world currency or universal currency, it is very far away because each country has its own regulation of currency, but if you use blockchain technology, it is possible that it will be applied by each country.

It will never happen as crypto will never able to deal with all of regulations in all of countries. universal currency means crypto will be adopted by all of countries and that means if crypto has no chance to become a universal currency.

If the rules are established, then the cryptocurrency will lose its function of decentralization. But hopefully an alternative will be found. Many countries are already gradually transferring residents to use non-cash payments, preparing them for the digital future. And, perhaps, in a few decades, we will be able to use cryptocurrency freely as well.

The government is transferring its citizens to cashless payments in order to make control over the income and expenses of citizens more accessible and problem-free. With the advent of cryptocurrencies, the monopoly of the state will crumble and in certain situations governments will oppose the uncontrolled use of cryptocurrencies in everyday life. One way or another, cryptocurrency users have yet to agree with the rules for using cryptocurrency within the state, which will be legally established.

[taufik0911]

In my opinion, to apply cryptocurrency as a world currency or universal currency, it is very far away because each country has its own regulation of currency, but if you use blockchain technology, it is possible that it will be applied by each country.

yes some countries are definitely against this but if most other countries approve cryptocurrency as a currency then it's a matter of time in my opinion
but in my opinion cyprocurrency will not be accepted in all countries unless the name is changed to digital asset by changing the name from cryptocurrency to digital asset will change the perspective of each country

[InwardContour]

In my opinion, to apply cryptocurrency as a world currency or universal currency, it is very far away because each country has its own regulation of currency, but if you use blockchain technology, it is possible that it will be applied by each country.

I've gone through several replies and yours is concise and valid. Some people hope that someday crypto will be accepted by all countries officially, this is extremely far-fetched as governments will try to protect their citizens due to the risk associated with crypto and also protect their national currency since crypto can actually make people use FIAT less if it's allowed to be universal currency per say. Also, it's possible that countries in future will start minting their own national coins on blockchain, but will be stable coins if ever it happens.

[wiss19]

It is possible that  someday all country accept Crypto Currency and it will become Universal Money?

There are countries that might feel it’s not right for them, and they won’t accept them. But despite, we don’t really need every country in the world to accept it, there are already lots of countries around the world that accepts cryptocurrency and that is enough. Then I don’t understand what you mean by Bitcoin becoming a universal money, it will be widely accepted but it’s going to be an alternative to the currency we make use of, and other payment methods there is.

I make use of Bitcoin but I didn’t put all my money there, just those that needs to be there, majority of my money still has to be in the bank and that’s it.

[AbNewton]

Technically, we already have some small progress on what you saying. Look at China and their cashless money. Nearly similar to cryptocurrency if it was used at a country scale. I have hope because of that so I think yes, it is possible for one day, cryptocurrencies accepted as the universal money in many countries.

[carter34]

It is possible that  someday all country accept Crypto Currency and it will become Universal Money?

I don't think it is going to be easy to take off fiat from human life to be replaced by cryptocurrency. Cryptocurrency has some challenges that fiat makes it more easier because you have the details with a third party which is bank but cryptocurrency security or password is easy you can lose it and that is gone for life.

[SaShiRaJaVu]

I've gone through several replies and yours is concise and valid. Some people hope that someday crypto will be accepted by all countries officially, this is extremely far-fetched as governments will try to protect their citizens due to the risk associated with crypto and also protect their national currency since crypto can actually make people use FIAT less if it's allowed to be universal currency per say. Also, it's possible that countries in future will start minting their own national coins on blockchain, but will be stable coins if ever it happens.

If some are having a dream that cryptocurrencies will be accepted as an official currency globally then they are living under a rock as it is impossible to foresee a situation like that, if you take into account how the process of cryptocurrencies works then you can call it a global currency as it is not having any border and you can easily convert it to your local currency at a much lower rate than the fiat currency. The idea behind every country coming up with their own national crypto coin is a bit too much as it does not mean anything if it does not have the underlying network capability to hold the network and i do not think any country will be spending billions to hold the network and hence it is not feasible .

[kevinzxz]

It is possible that  someday all country accept Crypto Currency and it will become Universal Money?

it will happen if all countries legalize cryptocurrency and I think it will happen soon, because we are entering the digital era, so we need everything that is fast, easy and safe, then in my opinion cryptocurrency is the right money to be used as a transaction in the current era, because cryptocurrency has the process is fast, safe and easy, therefore I am sure that one day all countries will legalize cryptocurrency and will use digital currency (cryptocurrency).

[Zemomtum]

It might be possible but not at sight, there are a lot of things to be done before this can be achieved and the mass adoption can force Government to comply.

[popeye95]

If you ask this question to normal people that don't know or understand about cryptos, I think most of them would answer no. But here, we're the community back and invest behind many crypto projects, innovation idea coins,... Of course, our answer would be a big YES. There is nothing such a dream for cryptos to become the universal money of the global.

[minersday]

It is possible that  someday all country accept Crypto Currency and it will become Universal Money?

So far as there are centralized organizations in this universe, there is no way cryptocurrency can become a universal money or currency for all nations in the world to use in exchange of goods and services. There are power groups in the world that would not allow decentralization in the financial ecosystem. These people will always like to control the nature of the financial ecosystem. The idea of decentralization might hinder how they control the financial space. Cryptocurrency is not yet recognized as a currency and to be even considered as a universal currency.

[maiden]

It is possible that  someday all country accept Crypto Currency and it will become Universal Money?

for me, i think it is possible, since there's a lot of individual used it as a mode of payment in anything... but Beyond the impact of a cryptocurrency future on individual consumers and on financial institutions, governments themselves would suffer. Governmental control over central currencies is key to regulation in many ways, and cryptocurrencies would operate with much less government purview.

[NoG-NoG]

It is possible that  someday all country accept Crypto Currency and it will become Universal Money?

I can see a huge potential to see that cryptocurrencies become universal money or another modality of payment and transaction we still need to see that the government must first accept cryptos to make it happen.

[joshua123]

It is possible that  someday all country accept Crypto Currency and it will become Universal Money?

Yes its possible that all countries are accepting crypto for paymenr but I cant assure that it will be called as universal money. Its gonna be hard way to be like that. Whats wrong being accepted for payment world wide? Its fine as long as it can be used no need to exaggerate it with the likes of universal money etc.

[X-ray]

It might be possible but not at sight, there are a lot of things to be done before this can be achieved and the mass adoption can force Government to comply.

It's not that even a single altcoin can suit with the requirement to be used as a legal payment system and then bitcoin was also a commodity too. that means crypto has only a very small chance to be used as a main replacement for the universal money that is used by all of countries called fiat money.

[giammangiato]

It is possible that  someday all country accept Crypto Currency and it will become Universal Money?

Everything could be possible, and if you think at the moment they already accept virtual money when we pay with our credit card or with paypal. I think that each country must have his stablecoin

[kotajikikox]

It is possible that  someday all country accept Crypto Currency and it will become Universal Money?

Not in our lifetime mate,because until now there are majority of countries in the whole world that against crypto so expect the battle will take until the next generation from us.

if then we don;t know what will happen in that time but the important part what we can do is let them ready and open about crypto so in time the next generation will continue the battle and may be successful that time.